Italy’s manufacturing confidence index jumped to a five-month high of 102 in May of 2019 from an upwardly revised 100.8 in the previous month and easily beating market expectations of 100.4. Expectations improved regarding future production (5.9 from 3.6 in April) and order books (-11.3 from -11.7) while the assessments on inventories decreased to 3.6 from 4.3 in the prior month. Italy's composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, increased to 100.2 in May from an upwardly revised 98.8, its highest level since November of 2018. Business Confidence in Italy averaged 102.29 Index Points from 1991 until 2019, reaching an all time high of 121.52 Index Points in February of 1995 and a record low of 71.60 Index Points in March of 2009.
Business Confidence in Italy is expected to be 100.10 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Italy to stand at 102.00 in 12 months time. In the long-term, the Italy Business Confidence is projected to trend around 104.00 Index Points in 2020, according to our econometric models.